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Dumping My Silver Eagle Collection

Farpdinkle

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#1
Dumping My Silver Eagle Collection

There was a time when I was excited over the Silver American Eagles (SAE’s) series. The coins were unique, large, beautiful, and each contained an ounce of silver—what’s not to like? About ten years ago, I decided to have a set with every SAE minted. I have a sealed box with 5 of the 2011 Silver 25th Anniversary 5-coin sets, First Issue eligible. I have a 2008 with the 2007 reverse. I even have the Daniel Carr 2009 proof. And every year since about 2009, I purchased at least one of every SAE the US Mint minted—the burnished coins, the reverse proofs, the Congratulatory set—everything. The only one I was missing from 1986 through 2018 was the ridiculously-priced 1995-W. Yep, I had a nice “set;” but I have started dumping some of them.

Why? I think the US Mint screwed the pooch. They started making so many one-off’s, one-year specials, even an old collector like myself (I started collecting coins in 1962) was having trouble knowing what year had what coins. Is there a 2014-S reverse proof, or is it a ‘W’? Is there a proof 2012-S? Is there a burnished 1992? Does the 2001 proof have a P or W mint mark? I can’t remember. The whole set has been convoluted with shifting “special” mintages and changing mint marks. It’s more like a long string of multi-varied commemoratives than a series.

As each “special” SAE was minted, I bought at least two of each—one for my collection and one to maybe sell when the price went up; but I think the potential for price increases was hurt by the Mint with their convoluted mess.

I like raw coins, or rather, coins that don’t need to be encapsulated to tell what they are. The only way a bullion 2011 can be identified as being a part of the 25th Anniversary Set is if it’s graded and encapsulated by one of the grading companies. And if you want a “First Strike” notation to go with the year set, you couldn’t view your own coin prior to sending it out to one of them. Ridiculous.

I’m going to maintain a set of the SAE bullion coins in a Dasco album. The rest of my SAE’s are going on Ebay or the auction block. I am only waiting to divest of the bulk of them when the Ag price edges upwards, as I expect it to do soon. It’s too bad the Mint messed up what started out to be a great series; but my numismatic pursuits will be within a better understood series such a Morgan Dollars, not in the mish-mash of SAE’s.
 

hammerhead

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#2
The only set I ever got excited about was the 25th Anniversary but i really don't numi very well. Last I looked which was a long time ago, they were getting low 600's.
 

newmisty

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#3
Dumping My Silver Eagle Collection

There was a time when I was excited over the Silver American Eagles (SAE’s) series. The coins were unique, large, beautiful, and each contained an ounce of silver—what’s not to like? About ten years ago, I decided to have a set with every SAE minted. I have a sealed box with 5 of the 2011 Silver 25th Anniversary 5-coin sets, First Issue eligible. I have a 2008 with the 2007 reverse. I even have the Daniel Carr 2009 proof. And every year since about 2009, I purchased at least one of every SAE the US Mint minted—the burnished coins, the reverse proofs, the Congratulatory set—everything. The only one I was missing from 1986 through 2018 was the ridiculously-priced 1995-W. Yep, I had a nice “set;” but I have started dumping some of them.

Why? I think the US Mint screwed the pooch. They started making so many one-off’s, one-year specials, even an old collector like myself (I started collecting coins in 1962) was having trouble knowing what year had what coins. Is there a 2014-S reverse proof, or is it a ‘W’? Is there a proof 2012-S? Is there a burnished 1992? Does the 2001 proof have a P or W mint mark? I can’t remember. The whole set has been convoluted with shifting “special” mintages and changing mint marks. It’s more like a long string of multi-varied commemoratives than a series.

As each “special” SAE was minted, I bought at least two of each—one for my collection and one to maybe sell when the price went up; but I think the potential for price increases was hurt by the Mint with their convoluted mess.

I like raw coins, or rather, coins that don’t need to be encapsulated to tell what they are. The only way a bullion 2011 can be identified as being a part of the 25th Anniversary Set is if it’s graded and encapsulated by one of the grading companies. And if you want a “First Strike” notation to go with the year set, you couldn’t view your own coin prior to sending it out to one of them. Ridiculous.

I’m going to maintain a set of the SAE bullion coins in a Dasco album. The rest of my SAE’s are going on Ebay or the auction block. I am only waiting to divest of the bulk of them when the Ag price edges upwards, as I expect it to do soon. It’s too bad the Mint messed up what started out to be a great series; but my numismatic pursuits will be within a better understood series such a Morgan Dollars, not in the mish-mash of SAE’s.
If I were you I wouldn't sell out of spite or frustration. You've already done the hardest part-acquiring them. Now the hard part is sitting tight. They have nowhere to go but up and you may regret it later.
 

ttazzman

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#4
If I were you I wouldn't sell out of spite or frustration. You've already done the hardest part-acquiring them. Now the hard part is sitting tight. They have nowhere to go but up and you may regret it later.
To me numismatics are like artwork......i have quite a bit of signed numbered artwork on my walls that all are something i personally like....while i do hope its value increases over time i am ok if it doesnt because i like it.....and yes its value could be compromised if that particular artist prints a million copies........point is your Coins have Intrinsic value (silver spot price)...beyond that its all (art value) ....so buy and keep things you like if your paying over the basic Intrinsic value the "art" value is just icing on the cake
 

HistoryStudent

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#5
I like the GIANT ONES you know back in the old days from the Washington Mint.

Around 2000 they were a decent price - kinda like the ATB 5 ozers only bigger some troy pound
some 8 ozers some a whole pound - only $3 an ounce then....

Sorry but I love the 2011 2012 2013 ones too... LOL


I would not sell a thing - gosh I would be so sick when it goes to $500 each even for the common ones...

Those throwing in the towel tells me "THE TIME IS NIGH" like the Gospel guys on the corner of Main and First in
L.A. back in the early 1980s when I was going to Cop hangout CODE 7 for my Jack Daniels to relax...

Where did those 40 years GO?
 

newmisty

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#6
I like the GIANT ONES you know back in the old days from the Washington Mint.

Around 2000 they were a decent price - kinda like the ATB 5 ozers only bigger some troy pound
some 8 ozers some a whole pound - only $3 an ounce then....

Sorry but I love the 2011 2012 2013 ones too... LOL


I would not sell a thing - gosh I would be so sick when it goes to $500 each even for the common ones...

Those throwing in the towel tells me "THE TIME IS NIGH" like the Gospel guys on the corner of Main and First in
L.A. back in the early 1980s when I was going to Cop hangout CODE 7 for my Jack Daniels to relax...

Where did those 40 years GO?
They are fun. Just be sure to determine whether it's being sold(priced at) as a troy pound or 8oz's. I've seen Ebayers get burned on that,

 

nickndfl

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#7
Silver weighs too much to collect in large values and it tarnishes easily in Florida. You can find gold at the bottom of the Atlantic not 100 yards offshore of Jensen Beach in 20' of water and it will look just like it came from the mint in Mexico 300 years ago. And you don't need a lot of it to accumulate wealth.
 

ttazzman

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#8
Silver weighs too much to collect in large values and it tarnishes easily in Florida. You can find gold at the bottom of the Atlantic not 100 yards offshore of Jensen Beach in 20' of water and it will look just like it came from the mint in Mexico 300 years ago. And you don't need a lot of it to accumulate wealth.
Silver at 32 or gold at 2600 first or more likely in your opinion?
 

Krag

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#9
Way too soon! Silver tends to go up suddenly, wait for the spike over $20! I don't collect to look at the coins much, but for value.
 

Irons

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#10
Sell the mass produced, overpriced pieces of white copper and buy Gold. You will never look back.


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GSR.jpg
 
Last edited:

Treasure Searcher

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#11
If I was you, here are several options:
1) Hold the items you want to dispose of, until the price of silver goes up.
2) Find a reputable dealer and trade what you want to dispose of, for what you seek to collect.

I would not sell outright at the prices of today.
 

GOLDBRIX

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#12
Silver weighs too much to collect in large values and it tarnishes easily in Florida. You can find gold at the bottom of the Atlantic not 100 yards offshore of Jensen Beach in 20' of water and it will look just like it came from the mint in Mexico 300 years ago. And you don't need a lot of it to accumulate wealth.
But like panning - Ya Got to Find the Gold.
I've never heard anybody say it was easy.